Suriname’s economy is small with public sector activities, mining and services being the major sectors. The agriculture sector and fisheries contribute a relatively small share of gross domestic product, averaging at about 5-7% annually. Nevertheless, the sector has high potential for contributing to economic diversification, employment generation and adaptation to climate change.
Cooperation during 2014–2020
Under the 11th European Development Fund (EDF), sustainable agriculture has been identified as priority area. It foresees €13.8 million to boost sustainable agriculture production, economic diversification and employment generation and improve life and wealth prospects of Surinamese people.
Assistance under the 10th EDF focused on upgrading transport infrastructure. The €19.8 million allocation of EU assistance aimed at improving transport links to promote regional and international integration and cooperation, improve access to services, and boosting the competitiveness of the private sector. The main project supported under the 10th EDF is the "Rehabilitation of the East-West Road Connection: Meerzog-Albina" with a budget of €17.5 million.
Suriname was also a beneficiary of the EU’s special framework of assistance for traditional ACP suppliers of bananas, a multi-faceted scheme put in place to assist economic diversification in those ACP countries for which bananas have traditionally been an economic mainstay. The volume of assistance dedicated to the restructuring of Suriname's banana industry over the last ten years has been more than €22 million. This assistance has helped to successfully increase the company's efficiency and productivity. It has been privatised recently, which has led to furhter increase competitiveness.
As a member of the Caribbean Community (CARICOM) and the Forum of the Caribbean Group of African, Caribbean and Pacific States (CARIFORUM), Suriname benefits from regional programmes funded under the Caribbean Regional Indicative Programmes.
The country is also a signatory of the EU-Caribbean Partnership Agreement (EPA) a comprehensive free trade agreement with a strong focus on development cooperation.